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Louisiana's lottery had its third-best year ever

1 week 1 day 9 hours ago Thursday, August 10 2017 Aug 10, 2017 August 10, 2017 5:58 AM August 10, 2017 in News
Source: Associated Press
By: Associated Press

BATON ROUGE- Louisiana's lottery had its third-best year ever since operations began in 1991, taking in nearly $455 million from hopeful winners in the budget year that ended in June.

But revenue in the 2016-17 fiscal year still was down nearly $54 million from a year earlier.

The Louisiana Lottery Corporation attributed the drop to the state economy's continued hit from the oil industry's struggles, a lower unclaimed prize pool and a sales spike last year tied to a record Powerball jackpot.

Thirty-five percent of lottery income, about $159 million, went to Louisiana's treasury for K-12 education. More than half the revenue went to prizes for players.

Retailers who sell lottery tickets received a slice of the money. The lottery says less than six percent of the money pays for its operating costs.

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